Hong Kong airport cancels all flights for the remainder of the day due to protests

Hong Kong International Airport, one of the world’s busiest terminals, has canceled all departures for the remainder of the day, citing serious disruption due to protests. The airport authority said Monday it had canceled all flights not yet checked in by the afternoon. Around 5,000 anti-government protesters had been demonstrating at the airport for a fourth day on Monday. Some activists had reportedly moved to the departure area and caused disruption, according to the Hong Kong police. The air


Hong Kong International Airport, one of the world’s busiest terminals, has canceled all departures for the remainder of the day, citing serious disruption due to protests. The airport authority said Monday it had canceled all flights not yet checked in by the afternoon. Around 5,000 anti-government protesters had been demonstrating at the airport for a fourth day on Monday. Some activists had reportedly moved to the departure area and caused disruption, according to the Hong Kong police. The air
Hong Kong airport cancels all flights for the remainder of the day due to protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: matt clinch
Keywords: news, cnbc, companies, airport, cancels, remainder, canceled, serious, flights, day, public, hong, international, disruption, kong, protests, car


Hong Kong airport cancels all flights for the remainder of the day due to protests

Hong Kong International Airport, one of the world’s busiest terminals, has canceled all departures for the remainder of the day, citing serious disruption due to protests.

The airport authority said Monday it had canceled all flights not yet checked in by the afternoon. Around 5,000 anti-government protesters had been demonstrating at the airport for a fourth day on Monday. Some activists had reportedly moved to the departure area and caused disruption, according to the Hong Kong police. The police declined to say if it would move to clear the demonstrators.

The airport authority said in a statement: “Airport operations at Hong Kong International Airport have been seriously disrupted as a result of the public assembly at the airport today.”

“The traffic to the airport is very congested, and the car park spaces at all car parks are already full. Members of the public are advised not to come to the airport,” it added. It later advised all passengers to leave the terminal building as soon as possible.

The increasingly violent protests since June have plunged the Asian financial hub into its most serious crisis in decades and are one of the biggest popular challenges to Chinese leader Xi Jinping since he came to power in 2012.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: matt clinch
Keywords: news, cnbc, companies, airport, cancels, remainder, canceled, serious, flights, day, public, hong, international, disruption, kong, protests, car


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Real estate firm names the top cities for risk-seeking investors

An employee looks out from the 32nd floor viewing platform of the Al Faisaliah Tower in Riyadh, Saudi Arabia. “Courageous” investors looking for long-term opportunities should look to emerging cities in the Middle East, India and China, according to global real estate advisor Savills. In its Resilient Cities Index report, Savills highlighted several cities that were still relatively untapped, despite being the most likely to see economic growth amid global disruption in the coming decades. New Y


An employee looks out from the 32nd floor viewing platform of the Al Faisaliah Tower in Riyadh, Saudi Arabia. “Courageous” investors looking for long-term opportunities should look to emerging cities in the Middle East, India and China, according to global real estate advisor Savills. In its Resilient Cities Index report, Savills highlighted several cities that were still relatively untapped, despite being the most likely to see economic growth amid global disruption in the coming decades. New Y
Real estate firm names the top cities for risk-seeking investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: chloe taylor
Keywords: news, cnbc, companies, withstand, london, names, currently, cities, estate, investors, real, place, disruption, worlds, firm, riskseeking, global, york, resilient


Real estate firm names the top cities for risk-seeking investors

An employee looks out from the 32nd floor viewing platform of the Al Faisaliah Tower in Riyadh, Saudi Arabia.

“Courageous” investors looking for long-term opportunities should look to emerging cities in the Middle East, India and China, according to global real estate advisor Savills.

In its Resilient Cities Index report, Savills highlighted several cities that were still relatively untapped, despite being the most likely to see economic growth amid global disruption in the coming decades.

The research analyzed which global hubs would be able to withstand or embrace technological, demographic and political disruption. New York was named the world’s most resilient city, followed by Tokyo, London and Los Angeles.

Savills predicted that the top four cities would retain their positions over the next decade. Shanghai, currently in 11th place, was expected to rise to fifth place by 2028, while London and Paris were the only European cities currently ranked among the 20 most resilient.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: chloe taylor
Keywords: news, cnbc, companies, withstand, london, names, currently, cities, estate, investors, real, place, disruption, worlds, firm, riskseeking, global, york, resilient


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Oil markets may have to brace for ‘greater disruption,’ says strategist

There’s ‘potential for greater disruption’ in the oil markets: Strategist 8 Hours Ago | 03:04As oil prices climbed to multi-month highs on Tuesday, one strategist warned of the “potential for greater disruption” ahead for crude markets. If … Libya comes into play, that’s only going to add more tightness to the market,” John Driscoll, chief strategist at JTD Energy Services, told CNBC’s “Squawk Box” on Tuesday. Driscoll’s comments came amid a recent violent resurgence in Libya, a key oil produc


There’s ‘potential for greater disruption’ in the oil markets: Strategist 8 Hours Ago | 03:04As oil prices climbed to multi-month highs on Tuesday, one strategist warned of the “potential for greater disruption” ahead for crude markets. If … Libya comes into play, that’s only going to add more tightness to the market,” John Driscoll, chief strategist at JTD Energy Services, told CNBC’s “Squawk Box” on Tuesday. Driscoll’s comments came amid a recent violent resurgence in Libya, a key oil produc
Oil markets may have to brace for ‘greater disruption,’ says strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: eustance huang
Keywords: news, cnbc, companies, oil, greater, brace, leader, venezuela, libyas, disruption, potential, libya, driscoll, risks, strategist, markets


Oil markets may have to brace for 'greater disruption,' says strategist

There’s ‘potential for greater disruption’ in the oil markets: Strategist 8 Hours Ago | 03:04

As oil prices climbed to multi-month highs on Tuesday, one strategist warned of the “potential for greater disruption” ahead for crude markets.

“It’s almost like 2011, when (former Libyan dictator Muammar Gaddafi) was toppled. If … Libya comes into play, that’s only going to add more tightness to the market,” John Driscoll, chief strategist at JTD Energy Services, told CNBC’s “Squawk Box” on Tuesday.

Driscoll’s comments came amid a recent violent resurgence in Libya, a key oil producer in the Organization of the Petroleum Exporting Countries (OPEC).

Rebel forces loyal to renegade leader General Khalifa Hifter, who effectively controls the country’s breakaway east, launched a surprise attack against the home of Libya’s UN-recognized government last week. The move risks plunging the country back into civil war.

Reports also surfaced overnight that the airport in Libya’s capital, Tripoli, had been hit by air strikes.

In addition to concerns over the ongoing conflict in Libya, Driscoll cited Venezuela and Iran as other potential sources of risks for the oil markets.

For Venezuela, he said: “Things are terrible there, oil output is plummeting, then you’ve got this wave of electrical outages that have halved their exports.”

In January, the U.S. slapped sanctions on Venezuela’s state-owned oil company PDVSA in an attempt to oust President Nicolas Maduro as he jostles for power with opposition leader Juan Guaido.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: eustance huang
Keywords: news, cnbc, companies, oil, greater, brace, leader, venezuela, libyas, disruption, potential, libya, driscoll, risks, strategist, markets


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Tech spending will near $4 trillion this year. Here’s where all the money is going and why

Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you. “Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC). A decade ago oil and gas companies were the stocks with the highest market capitalization. Now Goldman notes that all of the biggest market cap companies are tech (the to


Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you. “Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC). A decade ago oil and gas companies were the stocks with the highest market capitalization. Now Goldman notes that all of the biggest market cap companies are tech (the to
Tech spending will near $4 trillion this year. Here’s where all the money is going and why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: eric rosenbaum, source, flirty, olivier douliery, bloomberg, getty images, otis elevator united technologies, vcg, visual china group
Keywords: news, cnbc, companies, near, money, heres, industry, tech, market, technology, executive, oil, going, disrupted, spending, companies, disruption, goldman, trillion


Tech spending will near $4 trillion this year. Here's where all the money is going and why

Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you.

“Construction is being totally disrupted — the entire industry,” he said.

The former chief financial officer of Yahoo, Fortinet and Siebel Systems, Goldman said companies cannot afford to make the mistake of thinking technology disruption is greatest in the tech sector itself, or limited to certain sectors of the economy.

“Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC).

A decade ago oil and gas companies were the stocks with the highest market capitalization. Saudi Arabia’s oil giant Aramco is still more profitable than the iPhone maker, but the top of the market cap table has tilted. Now Goldman notes that all of the biggest market cap companies are tech (the top four U.S. publicly traded companies, to be exact). His warning: Disruption comes from the bottom up.

“The thing I’ve seen happen with companies inside and outside of tech is they get complacent and assume the newest will only take a small share. By the time it mushrooms, it’s too late,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: eric rosenbaum, source, flirty, olivier douliery, bloomberg, getty images, otis elevator united technologies, vcg, visual china group
Keywords: news, cnbc, companies, near, money, heres, industry, tech, market, technology, executive, oil, going, disrupted, spending, companies, disruption, goldman, trillion


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Tech spending will near $4 trillion this year. Here’s where all the money is going and why

Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you. “Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC). A decade ago oil and gas companies were the stocks with the highest market capitalization. Now Goldman notes that all of the biggest market cap companies are tech (the to


Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you. “Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC). A decade ago oil and gas companies were the stocks with the highest market capitalization. Now Goldman notes that all of the biggest market cap companies are tech (the to
Tech spending will near $4 trillion this year. Here’s where all the money is going and why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: eric rosenbaum, source, flirty, olivier douliery, bloomberg, getty images, otis elevator united technologies, vcg, visual china group
Keywords: news, cnbc, companies, near, money, heres, industry, tech, market, technology, executive, oil, going, disrupted, spending, companies, disruption, goldman, trillion


Tech spending will near $4 trillion this year. Here's where all the money is going and why

Ask Ken Goldman, president of former Google executive chairman Eric Schmidt’s family office, Hillspire, which industry is being disrupted by technology today and his answer might surprise you.

“Construction is being totally disrupted — the entire industry,” he said.

The former chief financial officer of Yahoo, Fortinet and Siebel Systems, Goldman said companies cannot afford to make the mistake of thinking technology disruption is greatest in the tech sector itself, or limited to certain sectors of the economy.

“Every single industry in the world,” said Goldman, who serves on the advisory board of the new CNBC Technology Executive Council (TEC).

A decade ago oil and gas companies were the stocks with the highest market capitalization. Saudi Arabia’s oil giant Aramco is still more profitable than the iPhone maker, but the top of the market cap table has tilted. Now Goldman notes that all of the biggest market cap companies are tech (the top four U.S. publicly traded companies, to be exact). His warning: Disruption comes from the bottom up.

“The thing I’ve seen happen with companies inside and outside of tech is they get complacent and assume the newest will only take a small share. By the time it mushrooms, it’s too late,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: eric rosenbaum, source, flirty, olivier douliery, bloomberg, getty images, otis elevator united technologies, vcg, visual china group
Keywords: news, cnbc, companies, near, money, heres, industry, tech, market, technology, executive, oil, going, disrupted, spending, companies, disruption, goldman, trillion


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Bloodshed, unrest and more oil disruption predicted as Nigeria re-elects its president

Nigeria’s President Muhammadu Buhari has won a second term in office after a contentious Nigerian election this weekend, but the opposition are refusing to accept the outcome and a period of uncertainty and unrest is expected to follow. That could impact the OPEC member’s oil production, according to RBC Capital Markets’ Global Head of Commodity Strategy Helima Croft. “Given the premium that the American president places on low oil prices, he will need to hope that Nigeria does not revert to pas


Nigeria’s President Muhammadu Buhari has won a second term in office after a contentious Nigerian election this weekend, but the opposition are refusing to accept the outcome and a period of uncertainty and unrest is expected to follow. That could impact the OPEC member’s oil production, according to RBC Capital Markets’ Global Head of Commodity Strategy Helima Croft. “Given the premium that the American president places on low oil prices, he will need to hope that Nigeria does not revert to pas
Bloodshed, unrest and more oil disruption predicted as Nigeria re-elects its president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: holly ellyatt, pius utomi ekpei, afp, getty images, kola sulaimon
Keywords: news, cnbc, companies, oil, votes, region, president, refusing, won, bloodshed, weekend, reelects, nigeria, unrest, disruption, rbc, production, predicted, election


Bloodshed, unrest and more oil disruption predicted as Nigeria re-elects its president

Nigeria’s President Muhammadu Buhari has won a second term in office after a contentious Nigerian election this weekend, but the opposition are refusing to accept the outcome and a period of uncertainty and unrest is expected to follow.

That could impact the OPEC member’s oil production, according to RBC Capital Markets’ Global Head of Commodity Strategy Helima Croft.

“With the opposition alleging fraud and refusing to the accept the outcome, the risk of further unrest remains high in the weeks ahead, especially in the restive oil region, which was the scene of some of the worst Election Day unrest,” Croft said in a note Wednesday co-authored with RBC analysts Christopher Louney, Michael Tran and strategist Megan Schippmann.

“If this election does bring a return to militancy in Nigeria’s oil region and major infrastructure attacks, it would be a very material event for the oil market, with two OPEC countries (Venezuela and Iran) under U.S. sanctions and Saudi Arabia continuing to cut production,” they noted.

“Given the premium that the American president places on low oil prices, he will need to hope that Nigeria does not revert to past practice.”

Nigeria’s election last weekend did not run smoothly and was marred by delays, logistical problems, outbreaks of violence and deaths, and allegations of vote rigging.

Buhari, who leads the All Progressives Congress (APC), won the election with almost 15.2 million votes (or 57 percent), the country’s Independent National Electoral Commission (INEC) announced Tuesday evening. Buhari’s nearest rival, Atiku Abubakar, who heads the People’s Democratic Party (PDP), received around 11.2 million votes, or 42 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: holly ellyatt, pius utomi ekpei, afp, getty images, kola sulaimon
Keywords: news, cnbc, companies, oil, votes, region, president, refusing, won, bloodshed, weekend, reelects, nigeria, unrest, disruption, rbc, production, predicted, election


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How the US-European alliance can become even stronger in an era of disruption

MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. The U.S. and Europe account for 64 percent of global outbound foreign direct i


MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. The U.S. and Europe account for 64 percent of global outbound foreign direct i
How the US-European alliance can become even stronger in an era of disruption Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred kempe, alex wong, getty images
Keywords: news, cnbc, companies, president, era, munich, useuropean, stronger, shape, rules, prosperous, transatlantic, economic, disruption, nato, alliance, global, security


How the US-European alliance can become even stronger in an era of disruption

MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises.

However, disruptive times call for unconventional measures.

This weekend, the U.S. will forward deploy more than 40 members of Congress – including House Speaker Nancy Pelosi – to the Munich Security Conference, the biggest such U.S. delegation in the 55-year history of the group, the most significant transatlantic powwow of its kind.

At a watershed moment for Western cohesion, the suggested subtext is unmistakable:

Don’t be misled by media reports or Trumpian tweets that suggest the U.S. will weaken or even withdraw from NATO, history’s most enduring and effective alliance. We as representatives of American voters will ensure that we safeguard the transatlantic bonds that have helped produce one of the most prosperous and secure periods of human history.

That’s reassuring, of course, but only for the short term. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. And President Trump’s comparatively positive statement on the alliance in his State of the Union suggests he may have decided to back off threats and instead take credit for many NATO members’ recent increases in military spending.

After all, he’s got bigger fish to fry: his summit in Vietnam with North Korean leader Kim Jong Un on February 27-28 and a possible meeting soon as well with Chinese President Xi Jinping. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. NATO may be the beneficiary of limited presidential bandwidth.

So, the greater peril in Munich is that the U.S. and its allies, by focusing so much on preventing worst-case outcomes over the past couple of years, haven’t prepared for the future. At a time that requires a renewed sense of cohesion and purpose on both sides of the Atlantic, they’re hamstrung by ongoing Brexit dramas, transatlantic trade tensions, disagreements on issues ranging from Iran to Russian gas, and a rising tide of nationalist and populist forces.

If transatlantic leaders don’t begin now to remind themselves of their common interests and again join in common cause, they’ll find that the construct of “the West” – that did so much to shape the last century of history – will lose its ability to shape the future.

The transatlantic future is as much an economic as a security question. The North American-European economy still is the largest and most prosperous economic bloc in the world, accounting for a more than third of global GDP (India and China combined account for just 25 percent). The U.S. and Europe account for 64 percent of global outbound foreign direct investment and 51 percent of global personal consumption. Transatlantic coherence also means more combined weight to counteract authoritarian state-owned enterprises and the ability to counter rules that less democratic countries might set on a whole host of global economic rules and practices.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred kempe, alex wong, getty images
Keywords: news, cnbc, companies, president, era, munich, useuropean, stronger, shape, rules, prosperous, transatlantic, economic, disruption, nato, alliance, global, security


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Facebook is the most ‘vulnerable’ big tech firm facing disruption, top VC says

Facebook is the most vulnerable large technology company when it comes to facing disruption, a prominent venture capitalist told CNBC on Tuesday, amid ongoing concerns around privacy. It kicked off after revelations that the data of 87 million Facebook users had been harvested by a political consultancy that ended up working with President Donald Trump’s campaign. Rebeca Hwang, co-founder and managing director of Rivet Ventures, said backlash from users toward social media firms has left Faceboo


Facebook is the most vulnerable large technology company when it comes to facing disruption, a prominent venture capitalist told CNBC on Tuesday, amid ongoing concerns around privacy. It kicked off after revelations that the data of 87 million Facebook users had been harvested by a political consultancy that ended up working with President Donald Trump’s campaign. Rebeca Hwang, co-founder and managing director of Rivet Ventures, said backlash from users toward social media firms has left Faceboo
Facebook is the most ‘vulnerable’ big tech firm facing disruption, top VC says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: arjun kharpal, marlene awaad, bloomberg, getty images
Keywords: news, cnbc, companies, think, tech, users, facebook, told, big, panel, technology, facing, disruption, firm, vc, vulnerable, hwang, perspective, social


Facebook is the most 'vulnerable' big tech firm facing disruption, top VC says

Facebook is the most vulnerable large technology company when it comes to facing disruption, a prominent venture capitalist told CNBC on Tuesday, amid ongoing concerns around privacy.

The social media giant had a rough 2018. It kicked off after revelations that the data of 87 million Facebook users had been harvested by a political consultancy that ended up working with President Donald Trump’s campaign. Then came reports about Russian-backed attempts to influence American elections and news that 50 million Facebook accounts were compromised in a cyberattack, in addition to the resignation of Instagram’s founders.

Rebeca Hwang, co-founder and managing director of Rivet Ventures, said backlash from users toward social media firms has left Facebook is a tough place.

“I do think Facebook is in a very vulnerable place right now. Both seen from the perspective of the consumer reaction … but also from the perspective of the deal flow that I see and the types of companies that are trying to become the disruptors of a Facebook,” Hwang said during a CNBC-hosted panel at the Davos Sanctuary.

“In my opinion, they have to take very strong actions to maintain their position.”

Facebook was not immediately available for comment when contacted by CNBC.

Part of the discussion on the panel focused on the power of the world’s largest technology firms and whether they are too powerful to face disruption. Hwang said that the heightened sensitivity among consumers toward data privacy could provide an opportunity for start-ups.

“I think the ones that have become dominant, especially with younger generations, it’s also very challenging having that status. And so I don’t necessarily see a future where all of these giants will continue dominating forever. I think there will be disruptors in some of these areas by new players,” Hwang told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: arjun kharpal, marlene awaad, bloomberg, getty images
Keywords: news, cnbc, companies, think, tech, users, facebook, told, big, panel, technology, facing, disruption, firm, vc, vulnerable, hwang, perspective, social


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Banks will be hit with ‘massive disruption’ from fintech in the next five years, Klarna CEO says

Klarna CEO: See ‘massive disruption’ to retail banking in next five years 6:46 AM ET Tue, 4 Dec 2018 | 02:44Banks will be faced with “massive disruption” in the next five years amid competition from financial technology challengers, the chief executive of Swedish bank Klarna told CNBC on Tuesday. Sebastian Siemiatkowski, Klarna’s boss, said that this new regulatory framework and the rise of tech-driven banking players are a recipe for significant competitive pressure on traditional lenders. “I’m


Klarna CEO: See ‘massive disruption’ to retail banking in next five years 6:46 AM ET Tue, 4 Dec 2018 | 02:44Banks will be faced with “massive disruption” in the next five years amid competition from financial technology challengers, the chief executive of Swedish bank Klarna told CNBC on Tuesday. Sebastian Siemiatkowski, Klarna’s boss, said that this new regulatory framework and the rise of tech-driven banking players are a recipe for significant competitive pressure on traditional lenders. “I’m
Banks will be hit with ‘massive disruption’ from fintech in the next five years, Klarna CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: ryan browne, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, fintech, massive, disruption, switch, banking, klarna, going, ceo, hit, siemiatkowski, banks, retail, psd2, told


Banks will be hit with 'massive disruption' from fintech in the next five years, Klarna CEO says

Klarna CEO: See ‘massive disruption’ to retail banking in next five years 6:46 AM ET Tue, 4 Dec 2018 | 02:44

Banks will be faced with “massive disruption” in the next five years amid competition from financial technology challengers, the chief executive of Swedish bank Klarna told CNBC on Tuesday.

New European legislation that was introduced at the start of the year, called PSD2, requires banks to share their customer data with third-party providers to enable them to create new financial products.

Sebastian Siemiatkowski, Klarna’s boss, said that this new regulatory framework and the rise of tech-driven banking players are a recipe for significant competitive pressure on traditional lenders.

“I’m one of those people who always say disruption is going to take 10 years or 15 years,” Siemiatkowski told CNBC’s Elizabeth Schulze at the Slush tech conference in Helsinki, Finland.

“I actually now really think that, with PSD2, there is going to be massive disruption to the retail banking space in the next five years. I just see all the prerequisites are there: the customers are willing now to switch, it’s easy to switch, the services are better, with the new people coming into the stage.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: ryan browne, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, fintech, massive, disruption, switch, banking, klarna, going, ceo, hit, siemiatkowski, banks, retail, psd2, told


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Digital disruption is ‘complementary’ to luxury retail: New World Development

Digital disruption is ‘complementary’ to luxury retail: New World Development15 Hours AgoAdrian Cheng of New World Development says the trade war has caused a sentiment that negatively affects consumption, but it will be “quite fleeting.”


Digital disruption is ‘complementary’ to luxury retail: New World Development15 Hours AgoAdrian Cheng of New World Development says the trade war has caused a sentiment that negatively affects consumption, but it will be “quite fleeting.”
Digital disruption is ‘complementary’ to luxury retail: New World Development Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, war, fleeting, quite, disruption, world, sentiment, digital, luxury, development, trade, hours, negatively, complementary, retail


Digital disruption is 'complementary' to luxury retail: New World Development

Digital disruption is ‘complementary’ to luxury retail: New World Development

15 Hours Ago

Adrian Cheng of New World Development says the trade war has caused a sentiment that negatively affects consumption, but it will be “quite fleeting.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, war, fleeting, quite, disruption, world, sentiment, digital, luxury, development, trade, hours, negatively, complementary, retail


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